_____ are best described as contractual alliances in which the participants regularly exchange codified knowledge.
A. Cartels
B. Licensing agreements
C. Equity alliances
D. Acquisitions
Answer: B. Licensing agreements
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Seref purchases handcrafted Turkish rugs overseas and brings them to the United States to sell in his retail store. He is involved in
A. outsourcing. B. countertrading. C. importing. D. franchising. E. exporting.
Which of the following statements regarding Standards contained in the FASB Accounting Standards Codification (ASC) is true?
A) They have the force of law, and failure to follow them can be prosecuted. B) They apply to financial reporting by all U.S. companies. C) They were created in 2009 when the ASC was created and did not exist prior to that time. D) They have to be approved by the SEC before they become effective.
Which of the following is true about the buying center?
A) In a buying center, one person cannot play more than one role. B) A typical buying center has a maximum of five or six members. C) A buying center consists of only mid-level managers and below. D) It is the decision-making unit of a buying organization. E) Gatekeepers in a buying center are people who authorize the proposed actions of deciders or buyers.
Current liabilities include accounts receivable, unearned revenues, and salaries payable.
Answer the following statement true (T) or false (F)